Savings Goal Calculator – Monthly Target & Growth Plan
Work out how much you need to save each month to hit a target, or project your future balance with interest and regular deposits. Clear maths, instant results.
⚠️ Advisory only: Results are educational estimates. For financial decisions, verify with a qualified professional.
Calculate Your Savings Target
Why Use This Savings Goal Calculator?
Two Modes – Goal-Based or Contribution-Based
Goal-seek monthly saving (PMT) or project future value.
Flexible Deposit Frequency (Daily, Monthly, Annual)
Monthly, weekly, or annual contributions; beginning or end of period.
Compounding Interest & Effective Annual Rate (EAR)
Choose compounding; shows effective annual return.
Save or Share Your Savings Plan
Copy a link that preserves your inputs and results.
Savings Calculation Process (3 Simple Steps)
Choose Savings Mode
“Savings goal” (solve PMT) or “future value”.
Enter Goal, Time & Contributions
Target or starting balance, rate, term, compounding & timing.
Review Monthly Target & Growth Projection
See required PMT, total contributions, interest earned, and final balance.
How to Use This Savings Calculator
How Savings Growth & Compounding Work
Your balance grows from the combination of an initial amount, regular contributions, and interest that compounds over time. Contribution timing (begin vs end of period), compounding frequency, and the interest rate all change the final outcome. This calculator models those elements precisely.
Savings Formulas Explained (with Example)
- Future Value (with deposits at end):
FV = P(1 + r/m)^{m·t} + PMT · \frac{(1 + r/m)^{m·t} - 1}{r/m} - Required Saving (PMT) for a goal:
PMT = \frac{FV - P(1 + r/m)^{m·t}}{\frac{(1 + r/m)^{m·t} - 1}{r/m}} - Beginning-of-period deposits: multiply the deposit term by
(1 + r/m). - Effective Annual Rate (EAR):
EAR = (1 + r/m)^{m} - 1
Worked example (solve PMT): Goal £10,000 in 3 years; rate 3% APR; monthly compounding; no starting balance.
r/m = 0.03/12 = 0.0025; factor = (1.0025)^(36) ≈ 1.093.
PMT ≈ £10,000 × 0.0025 / (1.093 − 1) ≈ £269/month at end of month. (Beginning-of-month ≈ £268.)
Assumptions: Constant rate, fixed contributions, no fees/taxes. For taxed accounts, reduce the rate accordingly.
Savings Calculator – FAQs
What Users Say About Our Tools
This estimator feels like a mini financial advisor. It’s incredibly helpful for first-time buyers to understand their limits. The income-to-debt ratio logic is spot on.
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